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Here's What Key Metrics Tell Us About Baker Hughes (BKR) Q3 Earnings
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For the quarter ended September 2023, Baker Hughes (BKR - Free Report) reported revenue of $6.64 billion, up 23.7% over the same period last year. EPS came in at $0.42, compared to $0.26 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $6.52 billion, representing a surprise of +1.93%. The company delivered an EPS surprise of +7.69%, with the consensus EPS estimate being $0.39.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Baker Hughes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Orders - Industrial & Energy Technology: $4.33 billion versus $2.61 billion estimated by four analysts on average.
Orders - Total: $8.51 billion compared to the $6.71 billion average estimate based on three analysts.
Orders - Oilfield Services: $4.18 billion compared to the $4.06 billion average estimate based on three analysts.
Orders - Industrial & Energy Technology - Total Gas Technology: $3.54 billion compared to the $1.76 billion average estimate based on two analysts.
Revenue- Oilfield Services & Equipment- International: $2.89 billion versus the three-analyst average estimate of $2.88 billion.
Revenue- Oilfield Services & Equipment- North America: $1.06 billion versus the three-analyst average estimate of $1.04 billion.
Revenue- Oilfield Services & Equipment- International- Europe/CIS/Sub-Saharan Africa: $695 million versus the two-analyst average estimate of $693.84 million.
Revenue- Oilfield Services & Equipment- International- Middle East/Asia: $1.50 billion compared to the $1.52 billion average estimate based on two analysts.
Revenue- Oilfield Services & Equipment: $3.95 billion versus the seven-analyst average estimate of $3.94 billion. The reported number represents a year-over-year change of +39%.
Revenue- Industrial & Energy Technology: $2.69 billion versus $2.58 billion estimated by seven analysts on average.
Revenue- Gas Technology- Services: $637 million versus $728.98 million estimated by three analysts on average.
Revenue- Total Industrial Technology: $799 million compared to the $837.05 million average estimate based on three analysts.
Shares of Baker Hughes have returned -3.4% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Here's What Key Metrics Tell Us About Baker Hughes (BKR) Q3 Earnings
For the quarter ended September 2023, Baker Hughes (BKR - Free Report) reported revenue of $6.64 billion, up 23.7% over the same period last year. EPS came in at $0.42, compared to $0.26 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $6.52 billion, representing a surprise of +1.93%. The company delivered an EPS surprise of +7.69%, with the consensus EPS estimate being $0.39.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Baker Hughes performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Orders - Industrial & Energy Technology: $4.33 billion versus $2.61 billion estimated by four analysts on average.
- Orders - Total: $8.51 billion compared to the $6.71 billion average estimate based on three analysts.
- Orders - Oilfield Services: $4.18 billion compared to the $4.06 billion average estimate based on three analysts.
- Orders - Industrial & Energy Technology - Total Gas Technology: $3.54 billion compared to the $1.76 billion average estimate based on two analysts.
- Revenue- Oilfield Services & Equipment- International: $2.89 billion versus the three-analyst average estimate of $2.88 billion.
- Revenue- Oilfield Services & Equipment- North America: $1.06 billion versus the three-analyst average estimate of $1.04 billion.
- Revenue- Oilfield Services & Equipment- International- Europe/CIS/Sub-Saharan Africa: $695 million versus the two-analyst average estimate of $693.84 million.
- Revenue- Oilfield Services & Equipment- International- Middle East/Asia: $1.50 billion compared to the $1.52 billion average estimate based on two analysts.
- Revenue- Oilfield Services & Equipment: $3.95 billion versus the seven-analyst average estimate of $3.94 billion. The reported number represents a year-over-year change of +39%.
- Revenue- Industrial & Energy Technology: $2.69 billion versus $2.58 billion estimated by seven analysts on average.
- Revenue- Gas Technology- Services: $637 million versus $728.98 million estimated by three analysts on average.
- Revenue- Total Industrial Technology: $799 million compared to the $837.05 million average estimate based on three analysts.
View all Key Company Metrics for Baker Hughes here>>>Shares of Baker Hughes have returned -3.4% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.